The United Arab Emirates, a Middle Eastern country with a population of about 930 million, has reportedly announced its intention to legalize gambling, raising the possibility that casinos in Las Vegas and Macau will soon become another major rival.
About three months after US casino operator Wynn Resorts revealed plans to build a multi-billion dollar hotel in northern emirate Ras Al Khaimah, Reuters reported Wednesday. Later, there was a move from this traditionally conservative country.
Few destinations
According to the news agency, gambling enthusiasts in the Middle East currently have only a few casinos in the region, including Casino du Liban in Lebanon.
However, the United Arab Emirates is trying to change the long-banned casino to attract tourists and beat neighboring rivals such as Saudi Arabia and Qatar.
Main players
American giant Caesars Entertainment, Inc. opened Caesars Palace Dubai without a casino in 2018, but its regional president Anthony Costa will introduce Reuters gambling to its 495-room facility. It is reported that he said he would consider it if he had a chance.
This is because MGM Resorts International, also headquartered in Las Vegas, is planning to attract Bellagio and MGM branded hotels to the nearby Jumeirah Beach area.
Costa said:
"We and MGM Resorts International are familiar with the fact that the United Arab Emirates has recognized the potential for gaming in any way.
As in any country, once licenses can be bid, global game companies will want to take an active part in the story.
Existing example
Vitaly Umansky of global investment research firm Sanford C Bernstein Limited said the United Arab Emirates is likely to form future regulations, centered on gambling regulations already in place in conservative countries such as Singapore. It is reported that he told the news service.In addition, the analyst predicts that future casinos will likely be open only to foreign-born guests and hidden behind huge hotels.
According to Umansky's announcement ...
"Like Singapore, the United Arab Emirates believes that gaming can help promote tourism and allows gaming in an integrated resort format for that purpose. The regulated environment is like hiding a casino. It's like Singapore, but it's more than that. There's no casino like Las Vegas. "
Profitable lottery
Reuters reported that the United Arab Emirates, where 90% of the population is foreign, launched a national "lottery" game in 2020 and is on the road to westernization.The innovative game is said to spend about $ 270 to buy a collector's picture of a local iconic landscape to win a prize of up to $ 9.5 million in a lottery draw. ..
Comment